Trump loses the name and control of his luxury hotel in Panama

The poster with the emblematic name “Trump” was removed today from a luxury hotel in Panama, of which the empire of the US president, Donald Trump, lost control of his administration by judicial decision.

Two operators of the new administration of the hotel started at about 13.30 local time (18.30 GMT) the name of the American president of the sign on which until now it was possible to read “Trump Ocean Club International Hotel and Tower”.

The sign, made of black granite with large silver letters, is located on a street in an exclusive neighborhood in the Panamanian capital and is usually photographed by many tourists.

A Panamanian court ordered the business empire of Donald Trump to leave the administration of the tower on Monday after the current owners dismissed the magnate’s organization and refused to leave the building.

The Trump Tower, inaugurated in 2011 with great fanfare by the now US president, was sold last year in its great majority to the private equity fund Ithaca, based in Miami.

The Cypriot businessman and fund manager, Orestes Fintiklis, said Monday that the commercial battle between the two conglomerates “went out of control” but that the Panamanian authorities have managed to put an end to it.

Fintiklis denounced on February 23 before the Panamanian Prosecutor’s Office several hotel workers for “usurping” the property, for refusing to accept that they had been dismissed and for preventing him from entering the complex.

The Trump Organization contested the dismissal because, according to the US press, it signed a decade ago a contract with the developer of the project to manage the building until at least 2031.

The so-called Trump Tower is an impressive sail-shaped building, which has a hotel, about 350 apartments, a casino, shops, spa and several swimming pools.

The Trump Organization has not yet reacted to the legal action on Monday.